A piece of Youngstown's south side that's sat empty for more than a decade is finally getting new housing. New Albany-based developer Wallick held a ceremonial groundbreaking Oct. 23 for Homestead Crossing, a $36 million, 120-unit affordable apartment community at 800 E. Indianola Ave. (via The Business Journal).
The land has a long history. It was home to the former Woodside Receiving Hospital and Lincoln Behavioral Center. The hospital closed in 2008 and was torn down in 2014. Wallick bought the property through the city's land utilization program, according to The Business Journal.
The plan calls for five three-story buildings with 30 one-bedroom, 72 two-bedroom and 18 three-bedroom apartments. Units will be rented to households earning up to 60% of Mahoning County's area median income, which the paper put at about $52,000. The apartments aren't subsidized, but rents are capped so tenants don't spend more than 30% of their income on housing, and the property is set up to stay affordable for at least 30 years. Plans include full kitchens with dishwashers and disposals, washer-dryer hookups, storage, a community lounge and a playground.
Much of the financing runs through the state. In July, the Ohio Housing Finance Agency board approved up to $21.5 million in multifamily housing revenue bonds for the project, along with a 4% federal low-income housing tax credit reservation and an allocation of the newer Ohio Low-Income Housing Tax Credit, according to OHFA's announcement of six funded developments. The Business Journal reports it's Wallick's first project in northeast Ohio and its second to use the state credit.
Construction is expected to take about 18 months. "Within 18 months, we will have people being able to live here, to be able to work here," said Amber White, who represents the 7th Ward on Youngstown City Council. DeMaine Kitchen, the city's director of community planning and economic development, said the area hasn't seen this kind of investment "in quite some time."
Wallick CEO Amy Albery called the project "a milestone for us as we grow our footprint across the state." State Rep. Lauren McNally, a former Youngstown council member who sponsored the state's affordable housing tax credit legislation, also spoke at the event.
The deal didn't come together overnight. WKBN reported in 2025 that Wallick had written to City Council in August of that year seeking comment on the project's community impact, at a time when the city said it had no agreement with the developer and was still weighing options for the site. A Mahoning County Mental Health and Recovery Board plan for housing on the property had stalled, and the board's director told the station he'd given the city the go-ahead to move on with the apartment plan.
Neither the Business Journal nor OHFA named a general contractor or architect for the job.
Why it matters for Contractors
Five buildings and 120 units over about 18 months is a real chunk of work for the Mahoning Valley, and it's just starting. Framing, drywall, flooring, cabinets, plumbing and electrical rough-in, site work and the playground all have to happen somewhere in that window. If you're a local sub, the first move is finding out who the general contractor is; Wallick and the city are the places to ask.
Publicly financed jobs can come with their own paperwork, so ask the GC up front whether the bond and tax credit financing carries any wage, reporting or insurance requirements before you price your scope. And keep an eye on the Ohio Housing Credit. This project shows the newer state credit being stacked with federal credits and housing bonds on a mid-size family deal in a smaller Ohio city, and that's a pattern worth watching if you work outside the big metros.